De Beers, Mine Closures and the Fight for Diamond Demand

In this episode of The Diamond Dudes, Avi Krawitz, Rob Bates and Edahn Golan discuss a diamond market that is improving in value but remains uneven. The hosts also consider why jewelry is outperforming other luxury categories, pointing to its emotional appeal, ability to meet different budgets and potential value as a hard asset. They debate the Diamond Collective’s rebrand and its effort to bring fresh energy to natural diamond marketing.

The conversation also turns to changes in the supply chain. The dudes examine the possible consortium bid for De Beers, the transfer of Mountain Province’s stake in Gahcho Kué to De Beers, and Petra Diamonds’ strategic review, which could lead to the sale of its South African mines. These developments raise broader questions about the future of diamond mining and whether manufacturers, particularly in India, should take a greater role in shaping industry strategy.

Golan reports that lab-grown diamond prices are beginning to firm, alongside signs of consolidation and vertical integration among producers. The hosts discuss how this could affect retailers and wholesalers, as well as the growing overlap between natural and lab-grown businesses.

Watch the full episode above.